Delta Air Lines (NYSE: DAL) shares surged on Thursday, October 9, after posting stronger-than-expected third-quarter results.
As per the report, the carrier’s revenue rose to $15.2 billion, up 4.1% year-over-year, reflecting operational strength and efficiency gains.
Accordingly, the company has lifted its full-year earnings per share (EPS) guidance to approximately $6, predicting a free cash flow in the $3.5–4 billion range.
The airline’s stock is up nearly 6.5% in pre-market, sitting at $60.80 as of the time of writing, and trading volumes are likewise exploding, with over 12 million shares changing hands.
DAL stock 24-hour price. Source: Google FinanceAmong those commenting on the upbeat results was Jim Cramer, the host of CNBC’s Mad Money show, who took to social media to praise Delta’s chief executive officer (CEO) Ed Bastian.
Delta unaffected by the shutdown
Cramer’s words of praise likely refer to Bastian’s Thursday appearance on CNBC’s Squawk Box, where he said that Delta managed to avoid major disruption from the ongoing U.S. government shutdown.
Nonetheless, Bastian cautioned that a continuation beyond 10 days could begin to strain the system. Indeed, over 13,000 flights have been delayed this week, with shortages of air traffic controllers contributing to the uncertainty.
Transportation Secretary Sean Duffy also noted the Federal Aviation Administration is already seeing an increase in sick calls among controllers, who are working without pay during the shutdown.
While there is no telling how long the situation is going to last, a similar scenario played out in late 2018 and stretched more than a month, so another ten days of hold-ups are not that difficult to imagine.
Featured image via Shutterstock
Source: https://finbold.com/this-jim-cramer-stock-favorite-is-up-6-today/


